Personal Finance: Save for your and child’s education

The cost of a high learning/college education certainly is not going down any time soon so in order to prevent future stress on family finances or subject your children to a potentially harder road during the college years, invest college savings account. Of late, most financial institutions are offering the children education scheme. This scheme help individuals plan for the future and save for their children’s education. The country is transforming into an educated economy among its targets for Vision 2020, I would encourage all parents to embark on a child education policy which I think is less costly. Both banking and insurance companies have rushed to introduce the savings scheme. I believe it is very important to start planning for your child’s education now rather than later. So folks, let’s start now because the earlier you begin, the more time you allow your money to grow. This avoids any future unnecessary suffering of our child and the hassle to get college fees. And a quick reminder, these schemes are not only limited to parents saving for the children only, old people can also save for themselves. Sure, it is likely we will struggle with paying for an education but it is essential in earning extra money when compared to those with only a high school diploma. If you can find a way to go back to college for the degree you never got or to obtain a degree you have wanted, it is never too late. Folks this is the time to make use of this opportunity. saul.butera@newtimes.co.rw